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China's 50b yuan Ponzi scam highlights growing online risks

Central bank-led monitoring system to track Internet financial activity and flag problems needed, suggests one analyst

The Ezubao office in Hangzhou. Executives at Ezubao's parent company, Yucheng Group, say investor funds were used to support a lavish lifestyle, according to Xinhua news agency.


ONCE China's biggest peer-to-peer (P2P) lending platform, Ezubao collected 50 billion yuan (S$10.9 billion) in less than two years from more than 900,000 investors through savvy marketing and the promise of big returns.

But executives at Ezubao's parent company, Yucheng